One of the world's largest ports, Antwerp, is ditching paper cheques in favour of a direct debit-based service from local outfit Twikey.
In the past shipping agents at the port could only release goods or cargo to a forwarder after receipt of a cheque, which then had to be delivered to the bank.
Working with the shipping agents, forwarders and Belgium's major banks - Belfius, BNP Paribas Fortis, KBC, ING Belgium and Bank J Van Breda & Co - Twikey has developed an electronic alternative using B2B Sepa Direct Debits mandates.
Using these mandates allows the Port of Antwerp, its shipping agents, the forwarders and the banks to eliminate huge amounts of paperwork, saving time and slashing operating costs, says the vendor.
John Kerkhof, manager, Antwerp Port Community System, says: "We have been looking for years for a valid alternative to cheques. Thanks to Twikey and its connection with banks, we can now eliminate the paperwork generated by everyday procedures that are used in the port sector."